5 Blue Chip Dividend Stocks to Buy After the Market Selloff

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 166
Dividend Yield as of September 13: 0.73%

Up next on our list of 5 and 10 Blue Chip Dividend Stocks to Buy After the Market Selloff is Visa Inc. (NYSE:V). It is an American multinational financial services company that facilitates electronic funds transfers throughout the world. The company is halfway to becoming a Dividend Aristocrat as it has raised its dividends 13 years in a row. It pays a quarterly dividend of $0.375 per share, with a dividend yield of 0.73%, as recorded on September 13.

In Q2 2022, Visa Inc. (NYSE:V) reported a 12% growth in its payments volumes from the same period last year. Its revenue also showed a 19.1% year-over-year growth at $7.3 billion. The company’s operating cash flow for the quarter stood at $5.2 billion and its free cash flow came in at over $5 billion. Moreover, it returned over $3.3 billion to shareholders through dividends and share repurchases.

In July, Mizuho raised its price target on Visa Inc. (NYSE:V) to $220 with a Neutral rating on the shares, as the company’s credit trends appear more in line with its previous quarters.

The number of hedge funds in Insider Monkey’s database owning stakes in Visa Inc. (NYSE:V) grew to 166 in Q2 2022, from 159 in the previous quarter. These stakes hold a total value of over $24 billion. TCI Fund owned the largest position in the company in Q2.

Baron Funds mentioned Visa Inc. (NYSE:V) in its Q2 2022 investor letter. Here is what the firm has to say:

“The Fund’s holdings in the Payments and Information Services themes also contributed to relative performance. Within Payments, lower exposure to this lagging theme and outperformance of Visa, Inc. (NYSE:V). These global payment networks are viewed as safe havens during market downturns but are also benefiting from resilient payment volumes and a sharp rebound in international travel.”